The Long Investor

$ADBE - RC -

$ADBE had a difficult day on Friday, wiping $20 Billion from its Market Cap as it could not hold its 200 Day MA and the share price sank.

The only addition to this chart is the correct wave and amber Fib levels.

We can see that the price action has gone above the 2 Fib already for Wave 5 and it was reaching for the top limits of Wave 5 at the 2.618 Fib and has not made it there.

$TSLA TOP 20

We highlighted this Inverse Head & Shoulders potential pattern after the pull back held the 0.618 Fib at $182 last week and it bounced 9% since then, which is impressive, considering the delicate knife edge that $TSLA has been on.

Losing that higher low at the 0.618 Fib and $TSLA was on a fast track route to the $152 line.

$TSLA bulls have a habit of stepping in.

$F is sho...

$SE TOP 20

$SE has been enjoying itself lately and it has been overdue, I have uploaded this chart a number of times during the week so I think we are comfortable with its movement now.

Conveniently Wave 5 is showing complete at the 200 Day MA, which is also our blue line from October '23.

Directly above this level at $48.50 is the large gap we have been waiting since August to fill when this ...

$PYPL TOP 20

I would be lying if I said there was not a concern that $PYPL can not go lower and make a lower low below $55.70, since the price is back into the red channel, after rejecting getting out of it at its earnings release.

This has knocked $PYPL back but the fact remains: $PYPL is undervalued at these levels and is still in the buy zone.

Bulls need a big showing this week and the 200 MA...

$PLTR TOP 20

The blue range showing the earnings jump is looking almost complete now, it shows a top out at $26.

So I have added in the amber fib support levels to show potential pull back levels.

An ABC pull back to the 0.5 Fib at $20, still puts people in a position to benefit from a 100% jump to complete Wave 3.

There is still plenty of gains to be made here if you did not buy or add be...

$NKE TOP 20

$NKE started the week strong after they announced that they were cutting jobs again and the price action jumped to the 200 Day MA and rejected, it pulled back slightly and tested again.....but the 50 Day MA is also there to reinforce this resistance level too, so if the Bulls are going to break out of this range, they will likely need a stronger catalyst.

$ONON also remains looking bullis...

$INTC TOP 20

$INTC continues to show a slow drift up and the 50 Day MA remains in the way here, so this is a big test for $INTC bulls at $45.80.

If there is another test of the blue line at $42.36 and it holds, this will be the 5th test of support and a buy signal for me.

My Wave 5 target remains at $56 and the bulls are still on control here.

$F TOP 20

$F chart is going against my opinion on the market and we have been in this situation before so I will just let the chart do the talking here.

There is not denying that the chart is looking healthy here now, holding back above the blue line at the 0.618 Fib, the price action is now back above the 50 and 200 Day MA and working its way to the top of the wedge at the yellow line again at $14...

$DIS TOP 20

This is drifting higher in an ascending tightening wedge which is also common in Wave 5 as buyers start to dry up, so I have Wave 5 completing at the 2 Fib at $114....this is a standard Fib level to complete Wave 5 and will not be extended finishing here...which is why I have added in the higher fibs in case chasers start coming in here.

I have also added in the ABC correction provisional...

$COST TOP 20

We spoke last week about $COST already being in extended territory now, as it is above our Second Target and above the 2.618 Fib and we have Wave 5 set at the extended Fib level at 3.618 at $765.....bare in mind that that this can reject at any stage now, especially if the market decides to pull back too, this will likely move down with it, as it has 5 clear waves in this structure.

So I ...

First Half of the Top 20 List uploaded

I will upload the second half of the Top 20 list tomorrow night as I have two flight tests in the simulator tomorrow and on Tuesday that I must prepare for now.

I wanted to get the Mega Caps and the market ETFs uploaded tonight so members can see where we are in the market right now.

I hope these charts were able to show things clearly for you now.

$MSFT TOP 20

For us, $MSFT is the only Mega Cap that appears to have finished its Wave 5 now, exactly in 5 waves and finishing not extended in between the 2.27 - 2.618 Fib levels.

$MSFT has been the perfect example of a chart following EW Theory all year so it is not surprising to see it continuing to behave in this manner.

There is still some distance to the 50 Day MA at $387, losing this level...

$GOOG TOP 20

$GOOG is not quite in the same situation as $AAPL, as it is battling to hold its 50 Day MA, which is comfortably above its 200 Day MA, whereas, $AAPL is battling with its 200 Day MA, which is a much bigger determination of a trend.....the 200 Day MA, is the difference within being in a bullish trend and a bearish trend.

For $GOOG the yellow line remains in play here at $140 as a support l...

$ABNB TOP 20

$ABNB had a very interesting week because it reported its earnings and showed a bad EPS which was down to a once off tax payment that was expected.

Retail I assume sold in panic and the price dropped to the 50 Day MA, (also a possible stop loss raid) and once the price came close to the 50 Day MA, the price bounced and immediately filled the earning gap and then made a higher high.

...

$AMD TOP 20

$AMD is not showing signs of topping out either just yet, in fact it is looking like it is primed for a melt up next.

This week we saw a fake break down out of the wedge to test the blue line and bounced immediately, to then breakout of the wedge to the upside.

The blue line has been tested twice now with a breakout to follow, so this is considered a support level now.

$SMCI's...

$AAPL TOP 20

$AAPL concerned a number of people of Friday because it finished below the 200 Day MA but I have circled on the chart where it has lost the 200 Day MA since October and recovered very quickly, so this is not a reason to sell but it is a reason to make a plan.

If the 0.618 Fib at $178 is lost then $AAPL could be in $TSLA territory and starting to break away from the bubble pack which is ho...

$BABA TOP 20

I want to be absolutely clear here.....I will not be trimming my $BABA position if the US MARKET corrects, $BABA has nothing to do with the US Market and is heavily correlated with the HSI as both charts are following each other perfectly.....$BABA is in no way following the $SPY or $QQQ.....so my plan all along is to have a position in $BABA because it is 1. Undervalued and 2. it is also a str...

$AMZN TOP 20

I am being optimistic here with $AMZN for one simple reason, it has lagged the market now since October '22.

It is still down considerably from its ATH line at $188 (while the market and other Mega Caps have all hit their previous ATH lines) and I believe its moat and revenue with increasing margins will help this move higher over the next 2 months.

But my admiration for $AMZN will ...

$QQQ TOP 20

$QQQ commentary is almost identical to the $SPY commentary, they are moving in sync and I believe Subwave 4 is not complete yet either and there is still one more leg up to complete Wave 5.

I have been very clear on this market movement for the last year, especially calling for Wave 4 completing at the end of October, when many believed it was the start of the correction and the market ra...

$SPY TOP 20

Let's start the TOP 20 updates with the market $SPY.

A number of indications are starting to pop up to show that people are starting to get cautious of the impending correction.

Bill Gates selling a considerable amount of his positions and concentrating into value stocks is a big one for me, inline with how Buffett has positioned himself too.

One heavy Mega Cap with Ai exposur...